GSE Desktop and Hybrid PPT

[NJAPRAZE]

I believe the $75-$125 is for a short form desktop portion for home equity of other purpose, and not the origination loan 1025 or 1004 or 1073 hybrid ?

Seems like two different products, though I could be wrong -

1025/multifam is likely and should be higher;
YES to 1004/1073 hybrid [equivs], with versions being used for HELO, at those levels... inter details / photos being done by "inspector"

 

[J Grant]

1025/multifam is likely and should be higher;
YES to 1004/1073 hybrid [equivs], with versions being used for HELO, at those levels... inter details / photos being done by "inspector"

Do you know that first hand, that appraisers are doing 1004 or 1073 hybrids for $75-125$?
I just find that hard to believe, since the form is just as time consuming minus the inspection and what appraisers are that stupid = unless it is staff work for an AMC?
I had been offered desktops in past combined with an inspection done by another party for a HELOC or other purpose and it was a weird online form I tried one and hated it, and the form was not that easy unless one is a skippy - for a skippy it seems like some nether world of part pre filled in data with those online forms... like a client can even provide sales in grid and appraiser can change them - idk the whole thing was so creepy after doing one I never explored it but they were not origination loans with 1004 o4 1073 forms nor were they URAR drive by forms

 

[Non Sequitur]

yeah, I don't think the AMC's will be able to settle out in that price range once they get inundated with these types of orders...

It's why a few large AMCs are developing proprietary PAREA programs. Current indie appraisers will be replaced with cubical drones who were trained to complete them per a script.

 

[alebrewer]

It's why a few large AMCs are developing proprietary PAREA programs. Current indie appraisers will be replaced with cubical drones who were trained to complete them per a script.

Not sure I'm totally on board with the AMC's and PAREA wiping out our industry, but I've no doubt they are going to avail themselves of PAREA to staff up for the new limited SOW appraisals.

 

[Non Sequitur]

Not sure I'm totally on board with the AMC's and PAREA wiping out our industry, but I've no doubt they are going to avail themselves of PAREA to staff up for the new limited SOW appraisals.

On the mortgage/GSE side, all but wiped out. There will still be some work from indie loan brokers and AMCs (who still have their preferred appraisers despite what some claim), but the 80% +/- AMC pot that's dominated by large AMCs will dry up for indie appraisers.

 

[alebrewer]

On the mortgage/GSE side, all but wiped out. There will still be some work from indie loan brokers and AMCs (who still have their preferred appraisers despite what some claim), but the 80% +/- AMC pot that's dominated by large AMCs will dry up for indie appraisers.

It's definitely anyone's guess at this point.

 

[Joe Flacco]

Fully executed I can see it being something like 1/3 waivers, 1/3 hybrids, 1/3 full.

 

[Joe Flacco]

But then we are probably going to be declining in numbers so maybe it doesn't make any difference anyways.

 

[Joe Flacco]

Who knows. Maybe the experiment will work out fine and losses will be contained whenever it is that there is a significant decline.

 

[George Hatch]

Fully executed I can see it being something like 1/3 waivers, 1/3 hybrids, 1/3 full.

I could see it going that way. Compared to what we were doing appraisals for 20 years ago, the AVMs have already skimmed a lot of those assignments off. Most of those being the easiest and most profitable assignments.

By the time it's all over I'm guessing the average degree of difficulty on the remaining "full service" assignments will be a lot higher than it has been in the past.